Andile Ngcaba-controlled Convergence Partners has agreed to buy storied South African IT services group Datacentrix from the previously listed Alviva Holdings.
The Convergence Partners Digital Infrastructure Fund has signed an agreement to acquire 100% of the equity in Datacentrix. Management is also participating in the transaction.
“Alviva is exiting Datacentrix pursuant to its delisting from the JSE in early 2023 to focus on its core operations in hardware distribution,” Convergence Partners said in a statement on Wednesday. Terms of the transaction were not disclosed.
The transaction aligns with the Convergence fund’s “strategy of investing in high-growth companies that are leading champions in their field with strong management teams and deep customer and vendor relationships”. Datacentrix has been in the IT services industry for the past 25 years.
“Datacentrix offers deeply specialised skills and is endorsed by the world’s foremost technology partners. The company is recognised for its agility, in-depth industry knowledge, proven capability and strong overall performance,” Convergence Partners said in the statement.
“Datacentrix will continue to focus on expanding into technologies that deliver business value to its clients, including digital transformation solutions and hybrid solutions from edge to cloud, that is informed by customers’ data and workload requirements. It will continue to operate independently as it has in the past and does not envisage any changes in operations or staff.”
Ahmed Mahomed, Datacentrix’s group CEO, said the acquisition will allow the business to “leverage the wider capabilities of the group, including its reach into the rest of Africa”.
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The transaction is expected to close by the end of March, subject to regulatory approvals from the Competition Commission and communications regulator Icasa. – © 2024 NewsCentral Media